Credit card written iff


Dear sir

 
i had a barclays credit card, due to heavy business loss i am not able to pay the outstanding
 
recently i checked in cibil statement  below details shown for the particular card.
 
now what shall i do .
 
Regards
Rajan
 
 
 
 

ACCOUNT DETAILS

Credit Limit
1,27,000
Rate of Interest
-
High Credit
1,74,045
Repayment Tenure
-
Current Balance
1,74,045
EMI Amount
-
Cash Limit
-
Payment Frequency
MONTHLY
Amount Overdue
1,74,045
Actual Payment Amount
-
 

DATES

Date Opened/Disbursed
30-05-2008
Date of Last Payment
22-09-2009
Date Closed
-
Date Reported & Certified
31-12-2016
 

PAYMENT HISTORY (upto 36 Months)

Payment Start Date
01-01-2014
Payment End Date
01-12-2016
 

DAYS PAST DUE (No. of Days) or ASSET CLASSIFICATION (STD,SMA,SUB,DBT,LSS)

  DEC NOV OCT SEP AUG JUL JUN MAY APR MAR FEB JAN
2016                        
2015                        
2014                        
 

COLLATERAL

Value of Collateral
-
Type of Collateral
No Collateral
 

DEFAULT STATUS

Suit Filed/Willful Default
-
Written Off Status
Written-off
Written Off Amount (Total)
174045
Written Off Amount (Principal)
140298
Settlement Amount
-
 
Reply   
 
Advocate

Your inability to pay or business loss does not shred your liability to repay the amount. Let the Bank to file suit for recovery where you shall have opportunity to negotiate on principal amount for settlement.
 
Reply   
 


Advocate

Your inability to pay or business loss does not shred your liability to repay the amount. Let the Bank to file suit for recovery where you shall have opportunity to negotiate on principal amount for settlement.
 
Reply   
 
FIN

As per your post:

-’Date of Last Payment 22-09-2009 Date Closed - Date Reported & Certified 31-12-2016’

The default is reported is reported after 7 years of Date of Last Payment 22-09-2009.

Written off is adverse entry and shall affect your credibility.

-DEFAULT STATUS: Suit Filed/Willful Default

Clear entry is not mentioned.

You would be aware if any suit was filed.

CC companies are known to file in, Credit Camps Special Lok Adalats for which you alone would know if any notice was supplied to you.

NO lender may advance any loan to you.

If you have not acknowledged debt since 7years then it might be hopelessly time barred.

 
Reply   
 
FIN

Until or unless you are able to prove any deficiency/delinquency on CC Company you may not get relief from regulator e.g; RBI, BO or courts of law e.g; DCDRF.

 

It is your discretion:

- to negotiate with lender t pay in full and settle your T&C in writing that IT shall call back your name from list of defaulters in style and manner your loan taking ability shall not be affected..

-engage into settlement. Settlement is adverse entry.

If you can settle your T&C in writing that IT shall call back your name from list of defaulters in style and manner your loan taking ability shall not be affected..

 

Lender may not easily agree on it.

 
Reply   
 

YOU CONTACT YOUR BRANCH MANAGER ASK ONE TIME SETTLEMENT (OTS) .  YOUR LOAN CAN NOW READY TO BUY SBI., IDBI BANK AND GIVES YOU 20% REDUCTION.   OR SETTLE WITH BM  PERSONALLY  50% :  50%.  1ST KNOW MONEY MAKES MENY THINGS.

 
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